Fmr LLC Acquires 1,741,835 Shares of Edison International (NYSE:EIX)

Fmr LLC lifted its holdings in Edison International (NYSE:EIX) by 8.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 21,800,874 shares of the utilities provider’s stock after purchasing an additional 1,741,835 shares during the quarter. Fmr LLC owned about 5.63% of Edison International worth $1,898,638,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Edison International in the third quarter valued at approximately $1,387,000. Swedbank AB raised its holdings in shares of Edison International by 76.3% in the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock valued at $32,073,000 after purchasing an additional 193,307 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Edison International by 150.6% in the first quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider’s stock worth $12,004,000 after purchasing an additional 102,000 shares in the last quarter. Cetera Investment Advisers grew its position in Edison International by 955.8% in the first quarter. Cetera Investment Advisers now owns 104,805 shares of the utilities provider’s stock valued at $7,413,000 after purchasing an additional 94,878 shares in the last quarter. Finally, Baker Avenue Asset Management LP acquired a new stake in Edison International in the 3rd quarter valued at $2,291,000. 88.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Bank of America began coverage on shares of Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective for the company. Jefferies Financial Group started coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target for the company. Argus boosted their price target on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Wells Fargo & Company upped their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley cut their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Stock Performance

Shares of NYSE EIX opened at $87.76 on Wednesday. The stock’s fifty day moving average price is $84.70 and its two-hundred day moving average price is $80.35. The firm has a market cap of $33.97 billion, a price-to-earnings ratio of 25.73, a P/E/G ratio of 2.09 and a beta of 0.92. Edison International has a one year low of $63.15 and a one year high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.38 earnings per share. On average, equities analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is currently 91.50%.

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by company insiders.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.